There are multiple areas to consider when developing an inventory loss prevention plan. And it does start with developing a plan. Policies and procedures for inventory loss prevention will guide employees on how to manage operations in a way that ensures best practices are followed and investments into systems and technology designed to prevent retail theft or losses for any type business will pay off.

The first area people mention to me when in this conversation is their “security system”, which is technically a burglary alert system. These systems will alert authorities in the event there is an intrusion into your facility when the system is armed / when no one is there. This needs to be part of the plan but the limitations need to be understood.

Next would be installing a CCTV / camera system. This area is probably where companies spend the most money and yet use the systems the least. They often are “set it and forget it” systems. Now that DVRs will store 30 days and write over recorded information first in first out automatically, it is easy to forget the system is there. Use the system as a management tool. Choose a recorded segment of an employee doing a good job, sit them down to watch the footage and tell them you would like to thank them for a job well done. This makes the system more active and will help curb employee theft issues, which are more devastating than shoplifting problems.

Another area to be sure you have regular processes in place to prevent retail theft is cycle counting high theft items. Some retailers do this daily, some weekly to watch what is going on with these targeted items.

Use a Checkpoint Systems inventory loss prevention system. These systems will deter thieves from even entering a retail store and are shown to prevent retail theft.

Consider hiring a professionalk to perform an operational audit. This will identify areas where you are vulnerable to loss and they will write your inventory loss prevention plan for you and all you need to do is stick to the plan. You can hire these pros to quarterly make surprise visits to check on progress.